US stock futures were largely flat on Wednesday as investors awaited the latest Federal Reserve policy announcement. The central bank is widely expected to keep interest rates unchanged, while traders look for comments from Fed Chair Jerome Powell on how rising oil prices might shape the policy outlook.
Oil prices extended their gains amid ongoing hostilities in the Middle East, even as US allies pushed back against President Donald Trump’s request for more support in securing shipping routes through the Strait of Hormuz.
In Tuesday’s regular session, the Dow Jones Industrial Average edged up 0.1%, the S&P 500 advanced 0.25%, and the Nasdaq Composite climbed 0.47%. Eight of the S&P 500’s 11 sectors finished higher, led by energy, consumer discretionary, and communication services.
In extended trading, shares of Lululemon and Oklo fell more than 1% and 2%, respectively, after underwhelming quarterly results, while DocuSign gained 1.5% on stronger-than-expected earnings.